Young shoppers are driving growth (and demand) for thrift stores. Gen Z and Millennials have been fueling thrift marketplaces for quite some time, and thrift stores/Goodwill are currently one of their favorite places to shop. The secondhand market is expected to reach $77 billion by 2025, and is growing 11 times the rate of the broader retail clothing sector according to retail analytics firm GlobalData and ThredUp. With the apparel and footwear industries accounting for nearly 10% of climate impact (that’s more than all international flights and maritime shipping trips combined), Gen Z and Millennials see secondhand shopping as a way to take action in response to the climate crisis. Depop and Poshmark are popular platforms among young shoppers for online thrifting, and according to the executive director of the National Association of Resale and Thrift shops, “the thrill of the hunt” makes thrifting more exciting than traditional retail shopping. (Axios)
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